Bharti Airtel posts 72% drop in consolidated net profit at Rs 86 cr in Q3

Net profit for the three months through December 31 was Rs 86.2 crore ($12.13 million) compared with a profit of Rs 306 crore in the year-earlier quarter

Telecom operator Bharti Airtel Thursday reported a 72 per cent drop in consolidated net income for the three months ended December 2018 at about Rs 86 crore amid market turbulence triggered by cut-throat competition.

The net income stood at Rs 306 crore in the same period of the previous year. Total revenue for the December 2018 quarter stood at Rs 20,519 crore, just 1 per cent higher than the Rs 20,319 crore in the corresponding period of the previous year.

"India revenues for Q3'19 at Rs 14,768 crore have declined by 2.3 per cent year on year (declined 3.5 pc on reported)